XRX - Xerox Non-GAAP EPS of $0.19 misses by $0.21 revenue of $1.75B misses by $10M

• Xerox press release ( NASDAQ: XRX ): Q3 Non-GAAP EPS of $0.19 misses by $0.21 .
• Revenue of $1.75B (-0.6% Y/Y) misses by $10M .
• "Due to the recent weakening of the Euro and British Pound, and an uncertain outlook for global foreign exchange rates, we are adjusting our full-year revenue guidance from at least $7.1B to a range of $7B to $7.1B in actual currency. Additionally, we are lowering our free cash flow guidance from at least $400M to at least $125M, both of which exclude a $41M one-time payment associated with the termination of a product supply agreement. We lowered our free cash flow guidance due to slower-than-expected supply chain improvements and persistently high rates of inflation, which negatively affected operating profit, as well as a greater-than-expected use of working capital to fund originations growth at FITTLE and inventories."
• FY2022 consensus for revenue is $7.10B.

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